• Traction Uranium (TRAC) released assay results from the Phase 1 ground program at its Key Lake South (KLS) uranium project
  • The team unearthed samples derived from the radioactive “Black Soil”, which contained high-grade uranium mineralization along with high levels of cobalt, nickel, and other pathfinder elements in the near-surface overburden
  • The “Black Soil” anomaly was observed with thickness up to 30 cmat several spots within the near-surface overburden while conducting ground exploration in the fall of 2022
  • Traction Uranium Corp. engages in mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region
  • Traction Uranium Corp. (TRAC) is up 3.33 per cent trading at $0.31 per share

Traction Uranium (TRAC) released assay results from the Phase 1 ground program at Key Lake South.

The team unearthed samples derived from the radioactive “Black Soil”, which contained high-grade uranium mineralization along with high levels of cobalt, nickel, and other pathfinder elements in the near-surface overburden.

The “Black Soil” anomaly was encountered within the giant surface uranium anomaly (GSUA) in a 10 km2 area. The anomaly was observed with thickness varying from a few cm up to 30 cmat several spots within the near-surface overburden while conducting ground exploration in the fall of 2022.

Company QP, Linglin Chu, M.Sc, P.Geo, explained that if volume is promising, the extremely high concentration of uranium and cobalt in the “Black Soil” found within overburden will open up a new exploration concept of “overburden-hosted” uranium mineralization at KLS.

“Further work is required to determine volume and extent of the occurrence at shallow depth; however, the proximity of the project to Cameco’s Key Lake Mill is advantageous in mining and milling compared to unconformity-hosted or basement-hosted uranium deposits typically found in the Athabasca Basin. To unearth the potential, different drilling methods will need to be employed, such as auger drilling and reverse circulation (RC) drilling at the location of the “Black Soil” and surrounding GSUA within KLS to determine the extent of the “overburden-hosted” uranium and cobalt mineralization.”

Source: Traction Uranium Corp.

The company’s Chief Executive Officer, Lester Esteban, added that the exploration team had been awaiting the geochemical results from the radioactive “Black Soil” sample since encountering it during the Phase 1 field program at KLS.

“What makes the SRC results exciting is this is not the first-time radioactive soil has been discovered at Key Lake. It was first encountered in the early 70’s sitting on top of one of the first deposits to make up the Key Lake discovery – fast forward to 2022 and we are following the same narrative 50 years later by encountering the radioactive soil once again to generate high-priority drill targets for our upcoming winter diamond drill program. In addition, having uranium mineralization in the till, within the over-burden, at near-surface presents a compelling blue-sky opportunity to pursue as our team explores the potential for an “overburden-hosted” uranium mineralization that also contains cobalt, nickel and various rare earth elements (REE) uncovered in the analysis results, which further solidifies KLS as our flagship project in the Athabasca Basin.”

A similar radiometric anomaly was discovered close to the north shoreline of Seashorse Lake by Uranerz in the early 1970s. Soil samples had assayed up to 1 per cent U3O8. The soil anomaly found and analyzed was discovered above an ore body at what is now known as Cameco’s Key Lake Deposits, which had produced 209.8 million pounds of uranium with an average grade of 2.32 per cent from 1983 to 2002.

Traction Uranium Corp. engages in mineral exploration and the development of discovery prospects in Canada, including its two flagship uranium projects in the world-renowned Athabasca Region.

Traction Uranium Corp. (TRAC) is up 3.33 per cent, trading at $0.31 as of 10:30 am ET.


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